Reports: Arenas agrees to re-sign with Wizards

Gilbert Arenas has agreed to re-sign with the Washington Wizards for $111 million over six years, essentially taking millions less so that his team could have more financial flexibility, two newspapers reported Thursday.

Arenas told the Washington Times and Washington Post that he was offered a maximum deal in the neighborhood of $127 million Tuesday, the first day of the free-agency period.

The three-time All-Star became a free agent after opting out of the final year of his six-year, $65 million contract. He initially said he was opting out to receive a max contract, but later indicated he would be flexible in negotiations.

Two knee operations caused Arenas to miss most of last season. He has averaged 22.8 points, 5.5 assists and 4.2 rebounds per game in his seven-season NBA career.

Also: Chris Paul and the New Orleans Hornets reached a contract agreement that could keep the All-Star point guard with the team for at least the next four seasons.

Lance Young, Paul’s agent, said Paul agreed to a three-year extension with a player’s option for a fourth year. The total value of the deal is $68 million.

Paul led the NBA last season with averages of 11.6 assists and 2.7 steals per game.

Michael Beasley returned to practice with the Miami Heat one day after the No. 2 overall pick in last week’s NBA Draft was knocked out of his first official summer league workout with a chest bruise.

Beasley was inadvertently elbowed by a teammate during a defensive drill Wednesday.

He is listed as day to day and is expected to take part in summer league, which opens Monday in Orlando, Fla.

The Orlando Magic signed first-round draft pick Courtney Lee.

The Magic took the 6-foot-5-inch guard from Western Kentucky with the No. 22 pick in last week’s draft.


Paul Hamm to start workouts for Beijing

Olympic gold medalist Paul Hamm’s broken hand is healed enough that he can return to regular gymnastics, giving him five weeks to get ready for the Beijing Games.

An X-ray showed the broken bone in Hamm’s right hand can withstand the force of gymnastics, said Dr. Lawrence Lubbers, who operated on Hamm’s hand May 27.

The only American man to win the world or Olympic titles, Hamm broke his hand May 22 in the closing seconds of his parallel bars routine.

He got a spot on the Olympic team but still must prove he is physically able to compete at a July 19 training camp in Colorado Springs, Colo.

Also: Gymnast Morgan Hamm, who was selected for his third Olympic team last month, received a warning for getting a prescribed anti-inflammatory shot without the proper clearance from anti-doping authorities.

The U.S. Anti-Doping Agency said Hamm tested positive May 24 at the U.S. gymnastics championships for a glucocorticosteroid, a cortisone-like drug that is only allowed during competitions with an exemption.

Dwain Chambers’ lawyers launched a court appeal to overturn the British sprinter’s lifetime ban from the Olympics so he can compete in the Beijing Games.

Chambers’ legal team filed court papers against the British Olympic Association, saying its bylaw that bans drug cheats from the British team is unreasonable.

Chambers is hoping the case will be heard by London’s High Court before the British Olympic Trials start July 11.

Amelie Mauresmo withdrew from the Olympic tennis tournament because she was not chosen to compete in singles.

The Frenchwoman, who won the silver medal in singles at the 2004 Olympics, was selected to compete in doubles in Beijing.


Rangers land Naslund, part ways with Jagr

Longtime Vancouver Canucks captain Markus Naslund agreed to terms with the New York Rangers on a two-year deal worth $8 million.

In making the announcement, Rangers general manager Glen Sather said he couldn’t wait any longer for team captain Jaromir Jagr to make up his mind on what it would take to keep him in a Blueshirt, so he went in a different direction.

While Jagr doesn’t know where he will play next season, Sather said the star winger might be heading to Russia for a lucrative deal.

Naslund, who will turn 35 this month, was a five-time All-Star with the Canucks and was the runner-up for NHL Most Valuable Player in 2003.

Also: The Pittsburgh Penguins signed goaltender Marc-Andre Fleury to a seven-year, $35 million contract.

Fleury, 23, helped the Penguins to the Eastern Conference title before a six-game loss to Detroit in the Stanley Cup Finals.

The Penguins also announced that they signed forwards Ruslan Fedotenko and Miroslav Satan to one-year contracts. Both had most recently played with the New York Islanders.

Veteran defenseman Rob Blake signed a one-year, $5 million contract with the San Jose Sharks.

Blake, 38, has spent 131/2 of his 18 NHL seasons with Los Angeles, including the past two campaigns. He is a seven-time All-Star and has 702 career points.


Marino takes one-shot lead at AT&T National

Steve Marino played bogey-free in the first round of the AT&T National in Bethesda, Md., and shot 5-under-par 65 for a one-shot lead.

Marino birdied three of his first four holes, never had a par putt longer than 5 feet and finished his round with an 8-foot birdie.

Jeff Overton, Frank Lickliter, Rod Pampling and Bob Estes opened with 66s.

Also: Ross Fisher had 10 birdies in a course-record 9-under 63 to take a two-stroke lead over Graeme McDowell and David Frost after the first round of the European Open in Ash, England.

The 27-year-old Englishman broke the record of 64 set by Seve Ballesteros at London Golf Club in 1994.

Defensive tackle Kyle Williams signed a three-year contract extension with the Buffalo Bills potentially worth $14.4 million.

The two-year starter is now signed through 2012 and is guaranteed $5.2 million for the next two seasons.

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